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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (35219)	5/1/2002 4:07:05 PM
From: Paul Shread	Read Replies (1) \| Respond to of 52237

Great comments as always, Bob. My own observation is much less sophisticated -g-: 10,000 was resistance yesterday and support today, and if it breaks again I think it could get ugly. JMHO...

To: Robert Graham who wrote (35219)	5/1/2002 5:42:27 PM
From: isopatch	Read Replies (1) \| Respond to of 52237

Bob. Temporary break of support and quick rebound back into the previous range during a strong primary uptrend has provided me with some of my best buying ops, over the years. It's fairly common for traders to place stop loss orders just under important support. Quick break of that support and rebound wipsaws them out of their positions via a process the street calls "running the stops". When there's no follow through, buyers quickly jump in. This action can act like a sling shot to price and will often establish enough upward momentum to fuel at least a good ST rally, sometimes much more. When I was a broker in the 70s and early 80s, learned the best way to avoid being wipsawed out of a long position was to avoid setting my stops where the crowd placed theirs. And by using mental stops vs sending a stop order to the MM or specialist unit, I retained the modest edge of the player who doesn't show his cards while the game is in progress.<g> Glad to see you posting more often. Don't be a stranger. Cheers, Isopatch